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Registered Number: 10115855
England and Wales

 

 

 

THE FIBREGLASS PEOPLE LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 April 2022

End date: 31 March 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3 9,000    12,000 
Tangible fixed assets 4 1,209    2,601 
10,209    14,601 
Current assets      
Stocks 16,732    15,398 
Debtors 71,228    69,608 
Cash at bank and in hand (11,273)   (6,679)
76,687    78,327 
Creditors: amount falling due within one year (68,290)   (74,466)
Net current assets 8,397    3,861 
 
Total assets less current liabilities 18,606    18,462 
Net assets 18,606    18,462 
 

Capital and reserves
     
Called up share capital 2    2 
Profit and loss account 18,604    18,460 
Shareholder's funds 18,606    18,462 
 


For the year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 20 March 2024 and were signed on its behalf by:


-------------------------------
M Cozens
Director
1
General Information
The Fibreglass People Limited is a private company, limited by shares, registered in England and Wales, registration number 10115855, registration address C/O Jermyn & Co, Unit 3 Hill Farm, Kirby Road, Kirby Bedon, Norwich, Norfolk, NR14 7DU. The trading address of the company is Unit 4 Runway Farm Parham Airfield, Great Glemham, Saxmundham, Suffolk, IP13 9AF.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Straight Line
Motor Vehicles 25% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 6 (2022 : 6).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 April 2022 30,000    30,000 
Additions  
Disposals  
At 31 March 2023 30,000    30,000 
Amortisation
At 01 April 2022 18,000    18,000 
Charge for year 3,000    3,000 
On disposals  
At 31 March 2023 21,000    21,000 
Net book values
At 31 March 2023 9,000    9,000 
At 31 March 2022 12,000    12,000 


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Total
  £   £   £
At 01 April 2022 2,187    4,000    6,187 
Additions    
Disposals    
At 31 March 2023 2,187    4,000    6,187 
Depreciation
At 01 April 2022 669    2,917    3,586 
Charge for year 392    1,000    1,392 
On disposals    
At 31 March 2023 1,061    3,917    4,978 
Net book values
Closing balance as at 31 March 2023 1,126    83    1,209 
Opening balance as at 01 April 2022 1,518    1,083    2,601 


2